Risk consideration is central to more accurate post-crisisvaluation
Corporate Valuation presents the most up-to-date toolsand techniques for more accurate valuation in a highly volatile,globalized, and risky business environment. This insightful guidetakes a multidisciplinary approach, considering both accounting andfinancial principles, with a practical focus that uses case studiesand numerical examples to illustrate major concepts. Readers arewalked through a map of the valuation approaches proven mosteffective post-crisis, with explicit guidance toward implementationand enhancement using advanced tools, while exploring new models,techniques, and perspectives on the new meaning of value. Riskcentrality and scenario analysis are major themes among thetechniques covered, and the companion website provides relevantspreadsheets, models, and instructor materials.
Business is now done in a faster, more diverse, moreinterconnected environment, making valuation an increasingly morecomplex endeavor. New types of risks and competition are shapingoperations and finance, redefining the importance of managinguncertainty as the key to success. This book brings thatperspective to bear in valuation, providing new insight, newmodels, and practical techniques for the modern financeindustry.
* Gain a new understanding of the idea of "value," from bothaccounting and financial perspectives
* Learn new valuation models and techniques, includingscenario-based valuation, the Monte Carlo analysis, and otheradvanced tools
* Understand valuation multiples as adjusted for risk and cycle,and the decomposition of deal multiples
* Examine the approach to valuation for rights issues and hybridsecurities, and more
Traditional valuation models are inaccurate in that they hingeon the idea of ensured success and only minor adjustments toforecasts. These rules no longer apply, and accurate valuationdemands a shift in the paradigm. Corporate Valuationdescribes that shift, and how it translates to more accuratemethods.